AR Loan Advances Payment Structure Sample Clauses

AR Loan Advances Payment Structure. (a) Control of Operator’s deposit accountsDeposit Accounts. Operator, FHA Lender and AR Lender agree and certify to the existence of deposit account control agreements or like agreements relating to Operator’s deposit accounts: [Describe deal-specific arrangement as to who has primary control of Operator’s deposit accounts.] (b) AR Lender funds AR Loan Advances. Operator, FHA Lender and AR Lender agree that no later than the [eighth (8th)] day of each calendar month (provided that if such day is not a Business Day then on the immediately preceding Business Day), [upon AR Lender’s receipt of a written request for an AR Loan Advance from Operator] and [upon in accordance with the satisfaction of all applicable requirements, conditions, and provision set forth in the AR Loan Documents]AR Loan Agreement, AR Lender shall disburse [[, by wire transfer of immediately available funds or by direct deposit]as an AR Loan Advance (to the extent of available funds). Such AR Loan Advance shall be made [[Availability]) to [the account of FHA Mortgagee designated in writing by Operator to AR Lender] [a payment account designated in writing by [FHA Lender] OR [Operator].Operator and from which FHA Mortgagee will either receive an automatic wire or access via the automated clearinghouse system], an amount equal to the Current Impositions, as defined below, as designated in writing to AR Lender by FHA Mortgagee, provided, however, that any Advance made pursuant to this subsection (b) shall be subject to the restrictions set forth in subsection (d) below.
Sample 1
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AR Loan Advances Payment Structure. 686 687 (a) C ontrol of Operator’s Deposit Accounts. Operator, FHA Lender and AR 688 Lender agree and certify to the existence of deposit account control agreements or like 689 agreements relating to Operator’s deposit accounts: [Describe deal-specific arrangement as to 690 who has primary control of Operator’s deposit accounts.] 691 (b) AR Lender funds AR Loan Advances. Operator, FHA Lender and AR 692 Lender agree that no later than the [eighth (8th)] day of each calendar month (provided that if 693 such day is not a Business Day then on the immediately preceding Business Day), [upon written 694 request from Operator in accordance with the AR Loan Agreement, AR Lender shall disburse [, 695 by wire transfer of immediately available funds as an Advance (to the extent of [Availability]) to 696 [the account of FHA Lender designated in writing by Operator to AR Lender] [a payment 697 account designated in writing by Operator and from which FHA Lender will either receive an 698 automatic wire or access via the automated clearinghouse system], an amount equal to the 699 Current Impositions, as defined below, as designated in writing to AR Lender by FHA Lender, 700 provided, however, that any Advance made pursuant to this subsection (b) shall be subject to the 701 restrictions set forth in subsection (d) below.
Sample 1
AR Loan Advances Payment Structure. Control of Operator’s deposit accounts. Operator, FHA Lender and AR Lender agree and certify to the existence of lockbox agreements, deposit account control agreements or like agreements with depository banks relating to Operator’s deposit accounts. : [Describe deal-specific arrangement as to who has primary control of Operator’s deposit accounts.] AR Lender funds AR Loan Advances. Operator, FHA Lender and AR Lender agree that AR Lender shall, onno later than the [eighth (8th)] day of each calendar month (provided that if such day is not a Business Day then on the immediately preceding Business Day)), [upon AR Lender’s receipt of a request for an AR Loan Advance from Operator] and [upon the satisfaction of all applicable requirements, conditions, and provision set forth in the AR Loan Documents] AR Lender shall disburse, [by wire transfer of immediately available funds asor by direct deposit] an AR Loan Advance (to the extent of available funds) ). Such AR Loan Advance shall be made [to the account of FHA Lender designated in writing by FHA Lender to AR Lender, an amount equal to the sum of (i) the aggregate base rent payable under the Owner-Operator Agreement for such month, (ii) taxes and insurance due and owing under the Owner-Operator Agreement for such month, and (iii) deposits to escrows and/or reserves required under the Owner-Operator Agreement (collectively, “Current Impositions”) as designated in writing to AR Lender by [FHA Lender. ] OR [Operator]. . AR Xxxxxx agrees that it shall make such disbursement in accordance with the provisions of the foregoing sentencesubsection unless (ai) there is not sufficient availability under and in accordance with the AR Loan Documents, or (bii) a default or event of default shall exist or be continuing under the AR Loan Agreement. AR Lender’s obligation to make each such AR Loan Advance is subject to the satisfaction of all conditions precedent thereto as set forth in the AR Loan Documents. After payment of the Current Impositions and subject to applicable restrictions in the AR Loan Documents, any remaining AR Loan Advances may be made as directed by Operator. FHA Xxxxxx agrees to apply amounts so
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AR Loan Advances Payment Structure 
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Related to AR Loan Advances Payment Structure

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to one percent (1.0%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(d) below.

  • Subsequent Advances The obligation of FINOVA to make any advance shall be subject to the further conditions precedent that, on and as of the date of such advance: (a) the representations and warranties of Borrower set forth in this Agreement shall be accurate, before and after giving effect to such advance or issuance and to the application of any proceeds thereof; (b) no Event of Default and no event which, with notice or passage of time or both, would constitute an Event of Default has occurred and is continuing, or would result from such advance or issuance or from the application of any proceeds thereof; (c) no material adverse change has occurred in the Borrower's business, operations, financial condition, in the condition of the Collateral, or other assets of Borrower or in the prospect of repayment of the Obligations; and (d) FINOVA shall have received such other approvals, opinions or documents as FINOVA shall reasonably request.

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.

  • Cash Collateral, Repayment of Swingline Loans If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 3.10.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Equipment Advances (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Equipment Advances to Borrower. Borrower may request Equipment Advances at any time during the Draw Period, provided that the initial Equipment Advance shall not exceed One Million Five Hundred Thousand Dollars ($1,500,000) (the “Initial Equipment Advance”). The aggregate outstanding amount of Equipment Advances shall not exceed the Equipment Line. Each Equipment Advance shall not exceed sixty percent (60%) of the invoice amount of equipment and software listed in that certain Machinery and Equipment 2013 Projection delivered to Bank on or about the Closing Date (which Borrower shall, in any case, have purchased, (i) with respect to the Initial Equipment Advance, within one hundred eighty (180) days and (ii) with respect to all subsequent Equipment Advances, within ninety (90) days, of the date of the corresponding Equipment Advance), excluding taxes, shipping, warranty charges, freight discounts and installation expense. Each Equipment Advance must be in an amount equal to the lesser of One Hundred Fifty Thousand Dollars ($150,000) or the amount that has not yet been drawn under the Equipment Line. (ii) Interest shall accrue from the date of each Equipment Advance at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Equipment Advances that are outstanding on June 30, 2013 shall be payable in twenty seven (27) equal monthly installments of principal, plus all accrued interest, beginning on July 1, 2013, and continuing on the same day of each month thereafter through the Equipment Maturity Date. Any Equipment Advances made by Bank after June 30, 2013 shall immediately amortize and be payable in equal monthly installments of principal, plus all accrued interest, beginning on the first (1st) day of the month immediately following such Equipment Advance and continuing on the same day of each month thereafter through the Equipment Maturity Date, at which time all amounts due in connection with the Equipment Advances made under this Section 2.1(b) shall be immediately due and payable. Equipment Advances, once repaid, may not be reborrowed. Except as set forth in the Pricing Addendum, Borrower may prepay the Equipment Advances prior to the Equipment Maturity Date, provided that on the date of such prepayment Borrower shall, (i) prepay all but not less than all of the Equipment Advances and (ii) in connection with such prepayment, pay to the Bank to the Prepayment Fee, if applicable. (iii) When Borrower desires to obtain an Equipment Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p.m. Pacific time three (3) Business Days before the day on which the Equipment Advance is to be made. Such notice shall be substantially in the form of Exhibit C. The notice shall be signed by a Responsible Officer or its designee and include a copy of the invoice for any Equipment to be financed. Bank shall be entitled to rely on any facsimile notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance.” 2. Section 2.1(c) of the Agreement hereby is amended and restated in its entirety to read as follows:

  • Term Loan (a) Subject to the terms and conditions of this Agreement, each Term Loan Lender severally agrees to make an advance of its Pro Rata Term Share of the Term Loan to the Borrower on the Closing Date, and from the Closing Date to the Term Loan Maturity Date, convert and continue Segments from time to time in accordance with the terms hereof. The principal amount of each Segment of the Term Loan outstanding hereunder from time to time shall bear interest and the Term Loan shall be repayable as herein provided. No amount of the Term Loan repaid or prepaid by the Borrower may be reborrowed hereunder, and no subsequent advance under the Term Loan Facility shall be allowed after the initial such advance of the Term Loan on the Closing Date. Segments of the Term Loan may be Base Rate Segments or Eurodollar Rate Segments at the Borrower’s election, as provided herein. (b) Not later than 1:00 P.M. New York time, on the Closing Date, each Term Loan Lender shall, pursuant to the terms and subject to the conditions of this Agreement, make the amount of its Pro Rata Term Share of the Term Loan available by wire transfer to the Administrative Agent. Such wire transfer shall be directed to the Administrative Agent at the Administrative Agent’s Office and shall be in the form of same day funds in Dollars. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, including without limitation the satisfaction of all applicable conditions in Sections 5.01 and 5.02, be made available to the Borrower by delivery of the proceeds thereof as shall be directed by the Responsible Officer of the Borrower and reasonably acceptable to the Administrative Agent. The initial Borrowing of the Term Loan may be a Eurodollar Rate Segment, a Base Rate Segment, or both; provided that if the Borrower desires that any portion of the initial Borrowing of the Term Loan is advanced as a Eurodollar Rate Segment, the Administrative Agent shall make such Borrowing as a Eurodollar Rate Segment only if, not later than three Business Days prior to the date that is then anticipated to be the Closing Date, the Administrative Agent has received from the Borrower a Term Loan Interest Rate Selection Notice with respect thereto, together with the Borrower’s written acknowledgement in form and substance satisfactory to the Administrative Agent that the provisions of Section 4.05 hereof shall apply to any failure by the Borrower to borrow on the date set forth in such Term Loan Interest Rate Selection notice any or all of the amounts specified in such Term Loan Interest Rate Selection Notice.

  • Repayment of Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Revolving Loans outstanding on such date.

  • Cash Collateral, Repayment of Swing Line Loans If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.15.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

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